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The World
Jurors convicted former Minneapolis police officer Derek Chauvin of all the counts filed against him in the death of George Floyd, who died after being pinned under his knee for more than nine minutes last May. Chauvin looked stern and glanced around the courtroom as the paper with the verdicts were removed from an envelope and read by Judge Peter Cahill. The fired police officer had on a paper mask and showed no significant reaction to the results. When his bail was revoked, he stood up, put his hands behind his back, was handcuffed and was led out the back door of the courtroom by a Hennepin County sheriff's deputy. Chauvin was booked into the state prison at Oak Park Heights, at 4:55 p.m. CDT, 48 minutes after the verdicts were read. (Minneapolis Star Tribune)
Around the world, governments are moving simultaneously to limit the power of tech companies with an urgency and breadth that no single industry had experienced before. Their motivation varies. In the U.S. and Europe, it is concern that tech companies are stifling competition, spreading misinformation and eroding privacy; in Russia and elsewhere, it is to silence protest movements and tighten political control; in China, it is some of both. (New York Times)
Europe’s health agency said a warning should be added to the product information of the Johnson & Johnson Covid-19 vaccine that unusual blood clots are a very rare possible side effect, but said the benefits of taking the shot outweigh the risks. Meanwhile in the U.S., Johnson & Johnson vaccine preference plummets. (Wall Street Journal, Civic Science)
France became the first EU member state to begin testing a digital coronavirus travel certificate as part of a Europe-wide scheme that Brussels hopes will allow people to travel more freely within the bloc by the summer. (The Guardian, Le Monde)
China is the world's biggest vaccine producer and exporter, as the world crossed a coronavirus vaccine milestone last week: Over 1 billion doses have now been produced. (Axios)
Russia has moved warplanes to Crimea and bases near Ukraine to an extent greater than has previously been disclosed, adding to its capability for political intimidation or military intervention, according to commercial satellite photos of areas being used for the military buildup. Ukraine President Volodymyr Zelenskiy challenged Vladimir Putin to meet him in eastern Ukraine’s Donbass region for talks on ending the conflict. (Wall Street Journal, Reuters)
As he masses troops near Ukraine, puts down domestic dissent and engages in a fast-intensifying conflict with President Biden, Vladimir Putin is on the verge of decisions that could define a new, even harder-line phase of his presidency. Today Putin is scheduled to deliver his annual state-of-the-nation address, a speech that could shed light on just how far he is prepared to escalate tensions with the West. Now in his third decade in power, Putin, 68, appears more convinced than ever of his special, historic role as the father of a reborn Russian nation, fighting at home and abroad against a craven, hypocritical, morally decaying West. (New York Times)
The Kremlin is preparing the most sweeping crackdown on Alexei Navalny’s followers since his emergence as an opposition leader in 2011, threatening to liquidate his entire political organisation as he fights for his life in a Russian prison. Using secret evidence, a Moscow court next week is set to declare Navalny’s Anti-Corruption Foundation and his regional political headquarters as extremist organizations, exposing his staff, supporters, and financiers to stiff fines and even long jail terms. Navalny allies, who are gearing up for a last-ditch protest today. (The Guardian)
China and the U.S. are getting close to naming new envoys to both capitals. Beijing plans to appoint Qin Gang, an adept diplomat who has acted as President Xi Jinping’s chief protocol officer, as the next ambassador to Washington. Washington is widely expected to name R. Nicholas Burns, a veteran diplomat who has served in both Democratic and Republican administrations, as its ambassador to Beijing. (Wall Street Journal)
China confirms Xi will attend Biden’s Earth Hour climate summit. The Chinese president will address virtual meeting of 40 world leaders organized by the White House to tackle climate change. (South China Morning Post)
Prime Minister Benjamin Netanyahu said he sees no option of forming a government, after the Arab Israeli party voted against his bloc. Rather, Netanyahu said the only options to avert his opponents taking power or a fifth election are the New Hope party’s reneging on its central campaign promise not to join forces with the Likud leader, or holding special, one-off direct elections for prime minister, an idea floated — and criticized by many — in recent days. (Times of Israel)
Iran seems rattled as Israel repeated strikes key targets. Recent attacks suggest that Israel has a clandestine network inside Iran and that Iranian security services have been powerless to break it. (New York Times)
Chad's President Idriss Déby has died of his injuries following clashes with rebels in the north of the country at the weekend. The announcement came a day after provisional election results projected he would win a sixth term in office. The government and parliament have been dissolved. A curfew has also been imposed and the borders have been shut. (BBC News)
All six Premier League teams involved in the European Super League have formally withdrawn from the competition. (BBC News)
A dozen megadonors and their spouses contributed a combined $3.4 billion to federal candidates and political groups since 2009, accounting for nearly one out of every 13 dollars raised. The report shows the top 12 donors split equally between six Democrats and six Republicans. The list includes multiple Wall Street billionaires and investors, a Facebook co-founder, a shipping magnate and the heir to a family fortune dating back to the Gilded Age. (New York Times)
Economy
In a push to dominate global financial technology, the Chinese government is aiming to roll out the world's first state-backed digital currency. China's new currency could set global standards for the use of national digital currencies — and give Beijing unprecedented visibility and control over domestic financial transactions. At least 60 countries are exploring the use of an official digital currency, but China is furthest along in making those plans a reality, while the U.S. has largely sat on the sidelines. (Axios)
What to watch as health systems and insurers report Q1 results: A key question will be how recovery from the financial hit of the COVID-19 pandemic is progressing. Now that federal relief funds for providers are largely exhausted and payers could be seeing more people return to care upon receiving a vaccine, it's unlikely the companies are out of the woods. (Healthcare Dive)
Tesla runs on faith, Exxon runs on discipline. Only one is right: CEOs Elon Musk and Darren Woods have incompatible visions and styles that belie their companies’ similar belief premiums. The future of energy boils down to the competing visions of a self-styled Technoking and a man so low-profile that Wikipedia isn’t sure which year he was born. Given the distance between the two men’s game plans, they can’t both be right. The past year has leaned hard, for the time being, toward Musk. (Bloomberg Businessweek)
Most Trusted Brands 2021: Morning Consult surveyed over 330,000 global consumers across 15 markets to provide a global view on why trust matters more than ever for today’s brands and businesses, the current state of consumer trust across brands, categories, and institutions, and how current events are changing the dynamics around trust. (Morning Consult)
Technology
Apple’s Spring Loaded event — the 8 biggest announcements: 1) Apple’s new iPad Pros have the company’s M1 chip; 2) Apple’s totally redesigned iMac has an M1 chip, too; 3) Apple finally unveils its AirTag item trackers; 4) The Apple TV 4K is getting an A12 bionic chip; 5) Apple redesigned the Apple TV remote; 6) Ted Lasso’s second season debuts and July 23; 7) The iPhone 12 will soon come in purple; 8) Apple is launching in-app podcast subscriptions. (The Verge, Apple)
Apple announced the launch of Apple Card Family, which will let partners/spouses build joint credit and give family members over 13-years-old access to using Apple Card, too. Apple Card Family will launch first in the U.S. in May after users update to the latest version of iOS. (TechCrunch)
Netflix hares slumped more than 10% after hours after Netflix announced it had added just under 4 million subscribers in the first quarter — missing the company’s forecast of 6 million. Netflix also said it expected a mere 1 million paid net additions for the second quarter. To put that in perspective, Netflix added 10 million subscribers in last year’s second quarter. Netflix revealed that it will spend over $17 billion on content this year. (CNBC, Variety)
The popular Chinese video app TikTok is being sued for several billion pounds and accused of illegally collecting the personal information of millions of children in the UK and Europe. The case, backed by the former children’s commissioner of England Anne Longfield, claims TikTok collects a huge volume of children’s private information while using the app — including phone numbers, pictures, videos, their exact location and biometric data — and transfers this data to unknown third parties for profit. (Financial Times)
Smart Links
Sleeping too little — 6 hours or less a night — in middle age may increase dementia risk in late 70s. (New York Times, Nature)
Anna Wintour predicts lockdown easing will unleash demand for luxury goods. (Financial Times)
Venmo adds support for buying, holding and selling cryptocurrencies. (TechCrunch)
Macron to close training school of French elite. (Financial Times)
Explosive demand for vacation rentals has made property managers a hot commodity. (CNBC)
American Airlines to resume hiring pilots this fall as travel demand recovers. (CNBC)
Tyrannosaurs may have hunted in packs like wolves, new research finds. (The Guardian)